New York Stock Exchange

Price List 2021

New York Stock Exchange

Price List 2021

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Last Updated: November 1, 2021

Price List 2021

Transaction Fees*

Regular Session Trading1

Transactions in stocks with a per share stock price of $1.00 or more

Non-Tier Adding Credit ? Equity per Share Credit - per transaction - for all orders, other than Mid-Point Liquidity ("MPL") and Non-Displayed Limit Orders that add liquidity to the NYSE unless a higher credit applies

$0.0012

Adding Credit for Non-Displayed Limit Orders when adding liquidity to the NYSE unless a higher credit applies.

No credit

If the member organization has Adding ADV in Non-Displayed Limit Orders that is at least 0.12% of Tapes A, B and C CADV combined, excluding any liquidity added by a DMM.

$0.0010

If the member organization has Adding ADV in Non-Displayed Limit Orders that is at least 0.15% of Tapes A, B and C CADV combined, excluding any liquidity added by a DMM.

$0.0018

$0.0005 if an increase of at least 0.02% and less than 0.04%

If the member organization has Adding ADV in Non-Displayed Limit Orders and MPL Orders in Tapes A, B and C CADV combined, excluding any liquidity added by a DMM, that is at least 0.02% of NYSE CADV over that member organization's May 2020 adding liquidity in Non-Displayed Limit Orders and MPL Orders taken as a percentage of NYSE CADV.

$0.0010 if an increase of at least 0.04% and less than 0.08%

$0.0015 if an increase of at least 0.08% or more

Floor broker cross trades (i.e., a trade where a Floor broker executes customer orders to buy and sell an equivalent amount of the same security) ? Equity per Share Credit - per transaction (credited to both sides)

$0.0006

Non-electronic agency transactions between floor brokers in the crowd? Equity

per Share Credit ? per transaction (credited to both sides)

$0.0006

Non-electronic agency transactions of Floor brokers that execute against the

Book intraday (i.e., other than at the open or close) - Equity per Share Credit ?

per transaction

$0.0006

* For purposes of determining transaction fees and credits based on quoting and/or liquidity levels, average daily volume ("ADV"), and consolidated ADV ("CADV"), the Exchange may exclude shares traded any day that (1) the Exchange is not open for the entire trading day, (2) is the date of the annual reconstitution of the Russell Investments Indexes, and/or (3) a disruption affects an Exchange system that lasts for more than 60 minutes during regular trading hours. Unless otherwise specified, references to volumes, quoting, ADV and CADV herein refer to Tape A securities.

1 Does not apply to transactions by members acting as a Designated Market Maker for own account.

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Price List 2021

Executions at the Open Equity per share Charge2 ? per transaction (both sides).

$0.0010

$0.0003 (Floor broker executions)

$0.0005 (designated with a Retail Modifier as defined in Rule 13 ("Retail Modifier"))

Executions at the Close Equity Per Share Charge ? per transaction (both sides) ?

Closing Offset ("CO") Orders

No Charge

MOC/LOC Tier 1:

For all MOC and LOC orders from any member organization in the prior three billing months executing an ADV4 of MOC activity on the NYSE of at least 0.45% of NYSE (Tape A) CADV, ADV4 of the member organization's total close activity (MOC/LOC and other executions at the close) on the NYSE of at least 0.7% of NYSE CADV, and whose MOC activity comprised at least 35% of the member organization's total close activity (MOC/LOC and other executions at the close).

MOC Orders: $0.0004 LOC Orders: $0.0007

MOC/LOC Tier 2:

For all MOC and LOC orders from any member organization in the prior three billing months executing an ADV4 of MOC activity on the NYSE of at least 0.35% of NYSE (Tape A) CADV, ADV4 of the member organization's total close activity (MOC/LOC and other executions at the close) on the NYSE of at least 0.525% of NYSE (Tape A) CADV, and whose MOC activity comprised at least 35% of the member organization's total close activity (MOC/LOC and other executions at the close).

MOC Orders: $0.0005 LOC Orders: $0.0008

MOC/LOC Tier 3:

For all MOC and LOC orders from any member organization in the current billing month executing an ADV4 of MOC activity on the NYSE of at least 0.25% of NYSE (Tape A) CADV, ADV4 of the member organization's total close activity (MOC/LOC and other executions at the close) on the NYSE of at least 0.35% of NYSE (Tape A) CADV, and whose MOC activity comprised at least 35% of the member organization's total close activity (MOC/LOC and other executions at the close).

MOC Orders: $0.0008 LOC Orders: $0.0009

Non-Tier MOC/LOC: For all MOC and LOC orders from any member organization in the prior three billing months that do not meet the Tier 1, Tier 2, or Tier 3 requirements above, the following rates shall apply.

Executions at the Close:

MOC Orders: $0.0010

MOC Orders Executed by a Floor broker: $0.0005, unless lower tiered fee applies

LOC Orders: $0.0011

MOC and LOC Orders with a Retail Modifier: $0.0008, unless lower tiered fee applies

The first 750,000 ADV4 of the aggregate of executions at the

2 $35,000 cap per month per member organization provided that the member organization executes an average daily trading volume ("ADV") that adds liquidity to the NYSE during the billing month ("Adding ADV"), excluding liquidity added by a Designated Market Maker, of at least five million shares.

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Price List 2021

For D Orders, Floor broker executions swept into the close, including verbal interest, and executions at the close, excluding MOC Orders, LOC Orders and CO Orders.

close by a member organization.......No Charge9

After the first 750,000 ADV of the aggregate of executions at the close by a member organization

D Orders last modified10 by the member organization earlier than 25 minutes before the scheduled close of trading..........$0.0003

D Orders last modified10 from 25 minutes up to but not including 3 minutes before the scheduled close of trading .........$0.0007

D Orders last modified10 in the last 3 minutes before the scheduled close of trading..............$0.0008 (Firms in MOC/LOC Tiers 1 and 2, both with Adding ADV of at least 0.50% of Tape A CADV).....$0.0010 (All other firms)

Orders from continuous trading swept into the close................$0.0007

Equity per Share Charge3 ? per transaction ?MPL orders that remove liquidity from the NYSE (Adding Tier Credits do not apply) and with no Retail Modifier. $0.0030

Equity per Share Charge3 ? per transaction ? for MPL orders that remove liquidity from the NYSE (Adding Tier Credits do not apply) and with a Retail Modifier

$0.0010

Equity per Share Credit ? per transaction ? for all MPL orders in Tapes A, B and C securities, other than MPL orders from Designated Market Makers ("DMMs"), that add liquidity to the NYSE (Adding Tier Credits do not apply)

Unless the higher credit set forth immediately below applies

$0.0010

If the member organization has Adding ADV in MPL orders that is at least 0.0075% of Tapes A, B and C CADV combined, excluding any liquidity added by a DMM

$0.0020

If the member organization has Adding ADV in MPL orders that is at least 0.015% of Tapes A, B and C CADV combined, excluding any liquidity added by a DMM

$0.00250

If the member organization has Adding ADV in MPL orders that is at least 0.075% of Tapes A, B and C CADV combined or an Adding ADV in MPL orders of 7.25 million shares, excluding any liquidity added by a DMM

$0.00275

3 Includes shares, rights and warrants.

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Tier 1 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Display Reserve orders that add liquidity to the NYSE if the Member Organization (i) has Adding ADV which shall exclude any liquidity added by a DMM that is at least 1.20% of NYSE CADV, and (ii) executes MOC and LOC orders of at least 0.12% of NYSE CADV.

$0.0022

Tier 2 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Display Reserve orders that add liquidity to the NYSE if the Member Organization (i) has Adding ADV that is at least 0.75% of NYSE CADV, and (ii) executes MOC and LOC orders of at least 0.10% of NYSE CADV or executes an ADV during the billing month of at least one million shares in Retail Price Improvements Orders.

$0.0020

Tier 3 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Display Reserve orders, that add liquidity if the Member Organization has an Adding ADV, excluding SLP and as a DMM Adding ADV, that is at least 0.35% of NYSE CADV.

$0.0019

Tier 4 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Display Reserve orders that add liquidity to the NYSE if the Member Organization either (A)(i) has an Adding ADV that is at least 0.40% of NYSE CADV, and (ii) executes MOC and LOC orders of at least 0.05% of NYSE CADV, or (B)(i) has an Adding ADV that is at least 0.30% of NYSE CADV, (ii) executes MOC and LOC orders of at least 0.05% of NYSE CADV, and (iii) has an Adding ADV in MPL orders of at least 200,000 shares.

$0.0018

Tier 5 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Display Reserve orders, that add liquidity if the Member Organization's Adding ADV, excluding liquidity added as an Supplemental Liquidity Provider and as a DMM, is at least 0.29% of NYSE CADV.

(i) at least 0.29% of NYSE CADV, or (ii) at least

a. 0.125% of NYSE CADV and b. Two (2) times more than the Member Organization's Adding

ADV in Tape A Securities in Q1 2021 as a percentage of NYSE CADV.

$0.0017

Tier 6 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Display Reserve orders, that add liquidity if the Member Organization's Adding ADV, excluding liquidity added as a Supplemental Liquidity Provider and as a DMM, is at least either:

(i) 0.22% of NYSE CADV, or

(ii) 0.15% of NYSE CADV that is at least 0.05% of NYSE CADV above

the Member Organization's Q1 2021 adding liquidity as a percentage

of NYSE CADV.

$0.0015

Step Up Tier 1 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Displayed Limit Orders, that add liquidity to the NYSE if the Member Organization has Adding ADV, excluding any liquidity added by a DMM, that is (i) at least 0.45% of NYSE CADV, and (ii) at least 0.20% of NYSE CADV over that Member Organization's March 2019 adding liquidity taken as a percentage of NYSE CADV.

$0.0019 if an Adding ADV of at least 0.45% and less than 0.65% of NYSE CADV

$0.0020 if an Adding ADV of at least 0.65% of NYSE CADV and at least 0.60% of NYSE CADV over that Member Organization's March 2019 adding liquidity taken as a percentage of NYSE CADV

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Price List 2021

Step Up Tier 2 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Displayed Limit Orders, that add liquidity to the NYSE if the Member Organization quotes at least 15% of the NBBO in 300 or more Tape A securities on a monthly basis and has Adding ADV in Tapes A, B and C securities as a percentage of Tapes A, B and C CADV, excluding any liquidity added by a DMM, that

(i)

is at least 1.75 times more than the Member Organization's

Adding ADV in Tapes A, B and C securities in July 2019 as a

percentage of Tapes A, B and C CADV,

(ii)

(ii) adds liquidity as an Supplemental Liquidity Provider in Tape A

securities of at least 0.05% of NYSE CADV, and

(iii)

(iii) exceeds the Member Organization's Adding ADV, excluding

any liquidity added by a DMM, in Tapes A, B and C securities in

July 2019 as a percentage of Tapes A, B and C CADV by at

least 0.10% of Tapes A, B and C CADV.

In Tapes A, B and C securities:

$0.0025 if an increase of at least 0.10% and less than 0.20%

$0.0029 if an increase of at least 0.20% and less than 0.35%

$0.0030 if an increase of at least 0.35% and less than 0.45%

$0.0031 if an increase of at least 0.45% or more

Step Up Tier 3 Adding Credit ? Incremental Equity per Share Credit ? per transaction ? for all orders from a qualifying member organization market participant identifier ("MPID") or mnemonic that sets the NBBO or a new BBO if the MPID or mnemonic:

(i) has Adding ADV in Tapes A, B and C Securities as a percentage of Tapes A, B and C CADV, excluding any liquidity added by a DMM, that is at least 50% more than the MPID's or mnemonic's Adding ADV in Tapes A, B and C securities in June 2020 as a percentage of Tapes A, B and C CADV, and

(ii) is affiliated with an Supplemental Liquidity Provider that has an Adding ADV in Tape A securities at least 0.10% of NYSE CADV, and

(iii) has Adding ADV in Tape A securities as a percentage of NYSE CADV, excluding any liquidity added by a DMM, that is at least 0.20%.

The incremental credit does not count toward the combined limit on SLP credits of $0.0032 per share provided for in the Incremental Credit per Share for affiliated SLPs whereby SLPs can qualify for incremental credits of $0.0001, $0.0002 or $0.0003.

For MPIDs or mnemonics of qualifying member organizations that are SLPs in a month where Tape A, Tape B and Tape C CADV combined equals or exceeds 11.5 billion shares per day for the billing month, CADV for that month will be subject to a cap of 11.5 billion shares per day for the billing month, and in a month where NYSE CADV equals or exceeds 5.5 billion shares per day for the billing month, NYSE CADV for that month will be subject to a cap of 5.5 billion shares per day for the billing month.

$0.0006 incremental credit in Tapes A, B and C securities

Member Organizations meeting the above Step Up Adding Tier 3 Adding Credit requirements and that also have (i) an Adding ADV that is at least 0.45% of Tapes A, B and C CADV, and (ii) Adding ADV setting the NBBO that is at least 0.18% of Tapes A, B and C CADV, will qualify for the following credits instead of the existing credit combined with the incremental credit:

$0.0036 for adding orders that set the NBBO; or

$0.0031 for all other displayed adding orders in Tape A, B and C Securities.

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Step Up Tier 4 Adding Credit ? Equity per Share Credit ? per transaction ? for all orders, other than MPL and Non-Displayed Limit Orders, that (i) has an Adding ADV that is at least 0.20% of NYSE CADV, and (ii) has an Adding ADV, excluding any liquidity added by a DMM, that is at least 0.05% of NYSE CADV over that Member Organization's November 2020 adding liquidity taken as a percentage of NYSE CADV.

$0.0015

Step Up Tier 5 Adding Credit ? Incremental Equity per Share Credit ? per transaction ? for all orders that add liquidity to the NYSE, other than MPL and Non-Displayed Limit Orders, from a qualifying member organization's MPID or mnemonic, if the member organization has Adding ADV, excluding any liquidity added by a DMM, that is at least 1.00% of Tape A CADV, and if the MPID or mnemonic has an Adding ADV as a percentage of Tape A CADV, excluding any liquidity added by a DMM, that is:

(i)

at least two times more than that MPID's or mnemonic's

Adding ADV in January 2021 as a percentage of Tape A

CADV, and

(ii)

at least 0.10% of Tape A CADV over that MPID's or

mnemonic's Adding ADV in in January 2021 as a

percentage of Tape A CADV.

$0.0001 incremental credit if an increase of at least 0.10% and less than 0.175% of Tape A CADV

$0.0002 incremental credit if an increase of at least 0.175% of Tape A CADV

Equity per Share Credit ? per transaction ? for all transactions of orders, other than MPL and Non-Display Reserve orders with a Retail Modifier that add liquidity to the NYSE

$0.0030

Equity per Share Charge3 for all other non-Floor broker transactions (i.e., when taking liquidity from the NYSE) unless the charge set forth immediately below applies - per transaction Equity per Share Charge3 for all other non-Floor broker transactions (i.e., when taking liquidity from the NYSE) if the Member Organization has an Adding ADV, excluding liquidity added by a DMM, that is at least:

250,000 ADV4 on the NYSE in Tape A

3,500,000 ADV4 on the NYSE in Tape A

$0.0030: Tape A, B and C

$0.00295: Tape A $0.00285: Tape B and C $0.00290: Tape A $0.00285: Tape B and C

7,000,000 ADV4 in Tape A and 500,000 ADV in Tape B and Tape C combined during the billing month

$0.00285: Tape A, B and C

14,000,000 ADV4 in Tape A and 750,000 ADV in Tape B and Tape C $0.0028: Tape A

combined during the billing month

$0.00285: Tape B and C

Equity per Share Charge3 ? per transaction ? for a Floor broker D Order that removes liquidity unless the charge set forth immediately below applies

$0.0005

Equity per Share Charge3 ? per transaction ? for all Floor broker D Orders that remove liquidity from any Member Organization executing an ADV4 of at least

500,000 shares in D Orders that remove liquidity from the NYSE in that month

$0.0015

Equity per Share Charge3 for all other Floor broker transactions (i.e., when taking liquidity from the NYSE) - per transaction

$0.0024; or $0.0030 if an MPL Order; or No Charge for MPL orders with a Retail Modifier

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Price List 2021

Routing Fee ? per share

$0.0035; or $0.0030 if the member organization has adding ADV in Tapes A, B, and C combined that is at least 0.20% of Tapes A, B and C CADV combined

Credit per Share - for executions of orders , other than MPL orders, sent to the floor broker for representation on the NYSE when adding liquidity to the NYSE Display Book system unless the higher credits set forth immediately below apply

$0.0019; or the Tier 1 Adding Credit or Tier 2 Adding Credit for qualifying member organizations

Credit per Share - for executions of orders, other than MPL orders, sent to the Floor broker for representation on the NYSE when adding liquidity to the NYSE Display Book system if the Member Organization has an ADV4 that adds liquidity to the NYSE by the Floor broker during the billing month that is at least:

(a) .07% of CADV ........................................................................................................................... (b) .25% of CADV ........................................................................................................................... (c) .33% of CADV ...........................................................................................................................

$0.0020 $0.0021 $0.0022

Transactions in stocks with a per share stock price less than $1.00

Equity per Share Charge - per transaction - when adding liquidity to the NYSE in any stock with a per share stock price below $1.00 (displayed and nondisplayed)

No Charge

Floor broker cross trades (i.e., a trade where a Floor broker executes customer orders to buy and sell an equivalent amount of the same security)

No Charge

Non-electronic agency transactions between Floor brokers in the crowd

No Charge

Non-electronic agency transactions of Floor brokers that execute against the Book intraday (i.e., other than at the open or close)

No Charge.

Non-electronic agency transactions of Floor brokers that execute at the close No Charge

Executions at the Open Equity per share Charge2 ? per transaction (credited to

both sides)

0.3% of the total dollar value

of the transaction

Executions at the close (except MOC and LOC orders)

No Charge

Credit per Share - for executions of orders in any stock with a per share stock price below $1.00 sent to the floor broker for representation on the NYSE when adding liquidity to the NYSE Display Book system.

$0.0004

Routing Fee ? per share in any stock with a per share stock price below $1.00 0.3% of the total dollar value of the transaction

Equity per Share Charge3 - per transaction (charged to both sides) ? for all MOC and LOC orders, in each case in any stock with a per share stock price below $1.00

0.3% of the total dollar value of the transaction

Equity per Share Charge for all other transactions (i.e., when taking liquidity from the NYSE) - per transaction in any stock with a per share stock price below $1.00

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